ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -How long you should wait to reapply for a credit card after an application is denied varies with each person’s situation, so there’s no hard-and-fast timeline to follow. The typical recommendation is that you should wait six months between credit card applications.

Detailed explanation-2: -Generally, it’s a good idea to wait about six months between credit card applications. Since applying for a new credit card will result in a slight reduction to your credit score, multiple inquiries could lead to a significantly decrease.

Detailed explanation-3: -Your credit card application may have been denied because you have bad credit. Unpaid collections, recent delinquencies, and high credit card balances are all things that need to be fixed before you can be approved for a credit card (or a decent one at least).

Detailed explanation-4: -Ask the card issuer to reconsider. Understand your credit reports. Pay down credit card balances. Pay off other debt. Wait to apply again. Apply for a more suitable card. Get added as an authorized user. Dispute inaccurate credit information. More items •29-Sept-2022